5 Colo. Code Regs. § 1002-51.6

Current through Register Vol. 47, No. 11, June 10, 2024

Section 5 CCR 1002-51.6 - PROCEDURES FOR ESTABLISHING THE PROJECTED LOAN LIST AND DISTRIBUTING FUNDS

(1) The Projected Loan List shall be included in the IUP and, after a public notice and comment period, shall be presented to the Commission for final agency action at a public hearing. At a minimum, the Projected Loan List shall identify:

(a) The applicant;

(b) project title;

(c) type of project;

(d) amount of financial assistance requested;

(e) subsidy rate index;

(f) whether the project is considered "green infrastructure";

(g) whether the project is within the fundable range; and

(h) the rank of each project by the priority score determined according to the IUP.

(2) The Division shall rank each project on the Projected Loan List based on the priority score of each project. Detailed scoring mechanisms shall be established in the IUP based on the following parameters:

(a) Water quality improvement;

(b) financial capability and affordability;

(c) sustainability/green project reserve;

(d) enforcement/compliance; and

(e) readiness-to-proceed.

(3) The Division shall identify the subsidy rate (if applicable) for each project on the Projected Loan List as identified in the IUP.

(4) Prior to adoption of the Projected Loan List by the Commission, the Division shall determine which projects are within the fundable range for financial assistance.

(a) In determining the fundable range, the Division shall evaluate each project for evidence that the project is ready to proceed. The Division shall consider the following factors when evaluating whether the project is within the fundable range:

(i) Evidence that the applicant has completed or will have completed preliminary planning and/or design documents in which funding is sought;

(ii) evidence that the applicant has completed or will have completed a project loan application for the calendar year in which funding is sought; and

(iii) evidence of debt authorization.

(5) In accordance with federal statutes, states are authorized to provide loans at or below market interest rates, including interest free loans, at terms not to exceed the lesser of 30 years or the projected useful life (as determined by the State) of the project to be financed with proceeds of the loan.

5 CCR 1002-51.6

38 CR 17, September 10, 2015, effective 9/30/2015